When we get to a buck wake me up?
Radius drills 96 m of 167 g/t Ag, 0.54 g/t Au at Amalia
2022-02-22 09:10 ET - News Release
Mr. Bruce Smith reports
RADIUS GOLD INTERSECTS 96M @ 167 G/T SILVER AND 0.54 G/T GOLD AT EL CUERVO TARGET, AMALIA PROJECT, MEXICO
Radius Gold Inc. has released assay results for the initial two drill holes from the El Cuervo target at the Amalia project, Mexico.
Highlights from the continuing drilling program include the following:
Hole AMDD21-47: 96 metres at 167 grams per tonne (g/t) silver and 0.54 g/t gold:
Including 45.2 m at 290 g/t Ag and 0.80 g/t Au;
Including 7.4 m at 592 g/t Ag and 0.69 g/t Au;
Hole AMDD21-46: 31 m at 44 g/t Ag and 0.13 g/t Au:
Including 3.5 m at 203 g/t Ag and 0.53 g/t Au.
Drill results received to date, as well as current and planned drilling, are presented in the "El Cuervo target -- drill results" table.
Discussion of results
The Radius team is highly encouraged by the new discovery at El Cuervo with drill hole AMDD21-47 cutting impressive width and high-grade gold and silver mineralization. The gold-silver mineralization is similar in style to the San Pedro and California targets, where significant mineralized systems have already been identified. Drill hole AMDD21-46, located 100 m above -47, intersected reduced width but still had several significant intervals with grade-width that is commonly mined underground. Visual interpretation of core awaiting assay from drill hole AMDD21-50 located 100 m down dip also shows a reduction in width. The initial drilling at El Cuervo has confirmed a significant mineralized system and drilling is on-gong to define the size potential.
Amalia is a large system with multiple vein structures (Amalia, California and El Cuervo) over 10 kilometres of combined strike with multiple targets on each structure. Compelling wide- and high-grade mineralization has been intersected on the three principal drill targets tested to date. Pan American Silver Corp. is the project operator and is fully financing the exploration. Pan American has a highly skilled team on the ground and a methodical exploration process. 50 drill holes (16,343 m) have completed at Amalia and drilling is continuing.
The agreement
Pursuant to an option agreement signed in June, 2018, Pan American Silver has the option to earn an initial 65-per-cent interest in the Amalia project by making cash payments to Radius totalling $1.5-million (U.S.) (of which $800,000 (U.S.) has been received) and expending $2-million (U.S.) on exploration over four years. Pan American may earn an additional 10 per cent by completing a preliminary feasibility study.
Quality assurance and quality control
Drilling is carried out using NQ- and HQ-sized tooling. Drill core is cut in half using a rock saw with one-half of the core then taken as a sample for analysis. Sample intervals are generally one-metre intervals, producing samples of between two to nine kilograms. Half-core samples are delivered to the ALS Geochemistry laboratory facilities in Chihuahua, Mexico. The samples are fire assayed for Au and are analyzed for Ag and multielements using method code ME-ICP61 following a four-acid digestion. Overlimits are analyzed using an appropriate method. Multielement geochemical standards and blanks are routinely entered into the drill core sample stream to monitor laboratory performance. Quality control samples submitted to ALS were returned within acceptable limits.
Technical information
Bruce Smith, MSc (geology), a member of the Australian Institute of Geoscientists, is Radius's qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Smith has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.